The Sandbox (SAND) and Crypto Lab Take Pride Month to the Metaverse

Key Insights:

• This month, People of Crypto Lab (POC) and the Sandbox (SAND) celebrate Pride Month in the metaverse in collaboration with NYX Professional Makeup.
• Activity in the metaverse has not slowed despite crypto market conditions as the transition to Web3 gathers pace.
• Technical indicators are bullish, with SAND sitting above the 100-day.

On Tuesday, The Sandbox (SAND) rose by 0.97%. Following a 9.28% rally on Monday, SAND ended May down by 26.4% to $1.45.

Despite May’s sell-off, it’s been a busy month for The Sandbox. Last week, FX Empire reported the arrival of Elvis Presley in The Sandbox.

This week, news of People of Crypto Lab (POC) and The Sandbox collaborating with Professional Makeup to celebrate Pride Month in the metaverse drew interest.

The Sandbox and Crypto Lab Take Pride Month to the Metaverse

On Tuesday, The Sandbox announced a collaboration with People of Crypto Lab (POC) on the Valley of Belonging.

The Valley of Belonging is the “first-ever diversity, equity, and inclusivity hub in the metaverse.”

According to Tuesday’s announcement,

“The new hub will launch 24 June 2022 during a special ‘Belonging Week’ event where The Sandbox will open ahead of its Alpha Season 3 to celebrate our difference, boldly reaffirming the importance of an equitable Web3.”

The announcement went on to say.

“POC aims to build a ‘cultureverse’ while investing in and amplifying creators and communities with diverse stories, teams, and projects that represent black and brown women, people of color, and LGBTQIA+ creators, developers, and brands.”

In collaboration with The Sandbox, POC will build metaverse projects and movements by onboarding brands to drive cultural awareness and education.

NYX Professional Makeup will be the first collaborative partner to celebrate Pride Month.

“NYX Cosmetics and POC Lab will celebrate Pride Month, highlighting that makeup has no gender via a non-binary NFT avatar collection featuring voxelized makeup looks for each group represented in the Progress Pride flag.”

On June 17, 8,430 avatar NFTs will be minted to represent an estimated 84.3% of the global majority population of communities of color & LGBTQIA+.

The avatars will reportedly have over 36 skin shades, every ethnicity, sexual orientation, and gender identification. NYX Professional Makeup will donate 100% of its proceeds from the sale of the avatar NFTs to the Los Angeles LGBT Center.

Sebastien Borget, COO and co-founder of The Sandbox, said,

Our vision for The Sandbox metaverse is to create a continuous shared digital space where worlds and brands collide to make a place where everyone is invited to participate, engage, create, and play.”

Borget added,

“Diversity, equity, and inclusion are essential in a truly open metaverse. Rather than replication the biases and inequality of the real world, the metaverse must break barriers and forge an inclusive, welcoming global community.”

The Sandbox (SAND) Price Action

At the time of writing, SAND was up 0.21% to $1.453.

Technical Indicators

SAND will need to avoid the $1.450 pivot to target the First Major Resistance Level at $1.522 and Tuesday’s high of $1.522.

SAND would need broader crypto market support to hit $1.50 levels.

An extended rally would test the Second Major Resistance Level at $1.594 and resistance at $1.60 before any pullback. The Third Major Resistance Level sits at $1.738.

A fall through the pivot would bring the First Major Support Level at $1.378 into play. Barring another extended sell-off, SAND should avoid sub-$1.35. The Second Major Support Level sits at $1.306.

Looking at the EMAs and the 4-hourly candlestick chart (above), it is a bullish signal. SAND sits above the 100-day EMA, currently at $1.414. This morning, the 50-day EMA narrowed to the 100-day EMA, providing support. The 100-day EMA closed in on the 200-day EMA; SAND price positive.

A hold above the 100-day EMA would support another run at $1.60 and the 200-day EMA, currently at $1.65.